According to Zacks, “Equitable Holdings, Inc. is a financial services holding company comprised of two franchises, Equitable and AllianceBernstein. Equitable provides advice, protection and retirement strategies to individuals, families and small businesses. AllianceBernstein is a global investment management firm that offers research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets. “
Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada upgraded shares of Equitable from a sector perform rating to an outperform rating and upped their price objective for the company from $21.00 to $28.00 in a research note on Wednesday, September 2nd. ValuEngine upgraded shares of Equitable from a strong sell rating to a sell rating in a research note on Thursday, October 1st. Credit Suisse Group reiterated a buy rating and set a $29.00 target price on shares of Equitable in a research note on Thursday, September 3rd. Morgan Stanley increased their target price on shares of Equitable from $25.00 to $27.00 and gave the stock an overweight rating in a research note on Tuesday, October 6th. Finally, TheStreet upgraded shares of Equitable from a d+ rating to a c- rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $24.57.
Equitable stock opened at $20.26 on Wednesday. The firm has a market capitalization of $9.11 billion, a P/E ratio of -337.61 and a beta of 1.74. The stock’s fifty day simple moving average is $19.76 and its 200-day simple moving average is $19.02. Equitable has a twelve month low of $9.89 and a twelve month high of $27.30.
Equitable (NYSE:EQH) last posted its earnings results on Tuesday, August 4th. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.87 by $0.13. The business had revenue of ($2,530.00) million during the quarter, compared to analysts’ expectations of $3.21 billion. The business’s quarterly revenue was down 180.1% compared to the same quarter last year. During the same period last year, the company earned $1.14 EPS. On average, equities research analysts expect that Equitable will post 4.44 EPS for the current year.
A number of large investors have recently made changes to their positions in EQH. Metropolitan Life Insurance Co NY increased its holdings in Equitable by 18.5% in the first quarter. Metropolitan Life Insurance Co NY now owns 5,765 shares of the company’s stock valued at $116,000 after buying an additional 898 shares in the last quarter. Public Employees Retirement Association of Colorado increased its holdings in Equitable by 54.0% in the first quarter. Public Employees Retirement Association of Colorado now owns 61,207 shares of the company’s stock valued at $884,000 after buying an additional 21,454 shares in the last quarter. US Bancorp DE increased its holdings in Equitable by 416.8% in the first quarter. US Bancorp DE now owns 9,318 shares of the company’s stock valued at $135,000 after buying an additional 7,515 shares in the last quarter. Franklin Resources Inc. purchased a new position in Equitable in the first quarter valued at about $189,000. Finally, M&T Bank Corp purchased a new position in Equitable in the first quarter valued at about $163,000. Hedge funds and other institutional investors own 88.09% of the company’s stock.
Equitable Company Profile
Equitable Holdings, Inc operates as a diversified financial services company worldwide. The company operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products primarily to affluent and high net worth individuals.
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